News

Home Depot investigates possible security breach

BY Dan Berthiaume

Atlanta – The Home Depot Inc. is the latest retail chain to investigate a possible credit card data breach.

“I can confirm we are looking into some unusual activity and we are working with our banking partners and law enforcement to investigate,” said Home Depot spokesperson Paula Drake in a prepared statement.

The news about the possible data breach was first reported by Brian Krebs on his website Krebsonsecurity.com, which said multiple banks reported "evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards." It also said that the hackers who stole the credit card data may be the same ring of Russian and Ukranian cybercriminals believed to behind similar attacks on Target and other retailers.

Home Depot said it is cooperating with banks and law enforcement agencies to investigate unusual activity.

“Protecting our customers’ information is something we take extremely seriously, and we are aggressively gathering facts at this point while working to protect customers,” Drake said. “If we confirm that a breach has occurred, we will make sure customers are notified immediately. Right now, for security reasons, it would be inappropriate for us to speculate further – but we will provide further information as soon as possible.”

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FINANCE

Report: Judge approves EBay antitrust settlement

BY Dan Berthiaume

San Francisco – A federal judge has reportedly approved an antitrust settlement EBay reached in May 2012. The settlement relates to a secret deal EBay reached with tax preparation software provider Intuit in which the two companies agreed not to hire each other’s employees.

According to Reuters, the settlement calls for EBay to not make any deals with any other technology companies to avoid hiring each other’s employees.

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REAL ESTATE

Market Basket to open four to five stores

BY Dan Berthiaume

Tewksbury, Mass. – The Market Basket supermarket chain is wasting no time in moving forward following its purchase by former CEO Arthur T. Demoulas for $1.5 billion on Aug. 28. According to the Boston Globe, Market Basket plans to open at least four new stores in Massachusetts the near future.

Cities slated for new Market Basket store openings reportedly include Revere, Attleboro, Littleton, and Athol, with Plymouth also under consideration. The Revere and Attleboro stores are scheduled to open by the end of 2014. Demoulas said that Market Basket will consider scaling back its new store openings from a planned four or five to two or three if that will help the company better manage the roughly $500 million in private equity debt which financed its recent purchase.

Demoulas was fired by his cousin Arthur S. Demoulas in June 2014, leading to a six-week employee and customer boycott in July and August 2014 that severely reduced products available on Market Basket shelves as well as the company’s profits. Arthur T. retained ownership of 49.5% of the company upon being terminated as CEO, and bough the remaining shares from Arthur S. and allied family members. Market Basket currently operates 71 stores in Massachusetts, New Hampshire and Maine.

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